Paypal giving a pretty good rate! - Page 2

weiwentg · #21 (**permalink**) 12-20-2005, 06:02 AM

Quote:

Originally Posted by BillsGirl

mine dropped to 4.05%

when yours dropped, so did everyone else's, so don't worry too much

jmjj215 · #22 (**permalink**) 12-20-2005, 07:12 AM

I just noticed the 4.19 today, though looks like a prev. poster beat me to it. There are plenty of MM accounts that people feel totally comfortable with - none of them FDIC insured. I feel comfortable leaving money in my paypal account - haven't had a problem yet.

BillsGirl · #23 (**permalink**) 12-20-2005, 05:11 PM

mines at 4.20% right now!

sweeps · #24 (**permalink**) 01-31-2006, 06:11 AM

FYI. Some people are reporting receiving an email from Paypal stating that it will no longer pay the costs to administer its money market fund. This will likely result in a 0.25% drop in the APY as of March 1.

weiwentg · #25 (**permalink**) 01-31-2006, 09:02 AM

Quote:

Originally Posted by jmjj215

I just noticed the 4.19 today, though looks like a prev. poster beat me to it. There are plenty of MM accounts that people feel totally comfortable with - none of them FDIC insured. I feel comfortable leaving money in my paypal account - haven't had a problem yet.

I have had a problem - someone stole $1000 out of my bank account using Paypal, as I posted earlier. but I'm comfortable enough to use them. their security has gotten better. also, you should keep your password hard to guess - use numbers and special characters. change it every so often - this is probably what got me the last time. don't respond to phishing emails.

as to money market accounts, they have just about never "broken the buck" - ie, dropped in value. as to what Paypal is doing, they had a fee waiver in place while interest rates were low. I believe it was stated in their prospectus, which everyone should read. I'm not exactly overjoyed, but it's a common practice - else there would be no reason to invest in MM funds when interest rates were low. this is the removal of a fee waiver, not a fee hike. money managers do generally get compensated for their services, after all.

now, TIAA-CREF, which claims it accidentally low-balled shareholders on fees, and then threatens to either hike fees or create higher-fee funds and then merge the old funds into those, absolutely deserves everyone's ridicule.

sweeps · #26 (**permalink**) 01-31-2006, 10:05 AM

Your point is well-taken, weiwentg. But whether it is a fee hike or the removal of a fee waiver, the effect is the same: a yield drop of .25%. I'm stumped as to why anyone would choose Paypal when there are FDIC-insured savings accounts with yields that are higher (and rising).

Lostsoul33 · #27 (**permalink**) 01-31-2006, 10:32 AM

I have to admit that paypal scares me. I've heard a lot of horror stories. I do have an account for my auctions but when someone pays me for something, I do a transfer into my daily banking account right away.

BillsGirl · #28 (**permalink**) 01-31-2006, 12:54 PM

up to 4.38% for me now

weiwentg · #29 (**permalink**) 01-31-2006, 01:56 PM

Quote:

Originally Posted by Sweepsplayer

Your point is well-taken, weiwentg. But whether it is a fee hike or the removal of a fee waiver, the effect is the same: a yield drop of .25%. I'm stumped as to why anyone would choose Paypal when there are FDIC-insured savings accounts with yields that are higher (and rising).

I occasionally sell stuff on ebay, and have their debit card which gives me a 1% rebate. I'm a foreign student, and I have no credit record. I don't qualify for all those nice credit cards that give a rebate. such is life.

jmjj215 · #30 (**permalink**) 02-01-2006, 07:34 AM

Quote:

Originally Posted by Sweepsplayer

FYI. Some people are reporting receiving an email from Paypal stating that it will no longer pay the costs to administer its money market fund. This will likely result in a 0.25% drop in the APY as of March 1.

Sweeps, I received this email. It'll motivate me to move money out of there and into ING until Tax Day

BillsGirl · #31 (**permalink**) 02-12-2006, 02:19 AM

they are up tp 4.43 as of last night.... with rates like that it's hard to image moving the money else where...

anyone else have experience with the paid paypal accounts? why do they take so much money??? when you have to pay paypal too and then you get penalized if you try to turn away someone with a credit when you have no choice int he begining on wether to accept them or not.... like on my listing says I take e-checks credit cards, but if I tell someone no, it's my fault in ebays eyes.... and I can only downgrade my account ONCE.... I use paypal for all my survey payouts too and i like to keep every penny given to me!!

does anyone know the rate of an ING account? thats where I would probably switch to when I need to!

weiwentg · #32 (**permalink**) 02-12-2006, 04:45 AM

Quote:

Originally Posted by BillsGirl

they are up tp 4.43 as of last night.... with rates like that it's hard to image moving the money else where...

anyone else have experience with the paid paypal accounts? why do they take so much money??? when you have to pay paypal too and then you get penalized if you try to turn away someone with a credit when you have no choice int he begining on wether to accept them or not.... like on my listing says I take e-checks credit cards, but if I tell someone no, it's my fault in ebays eyes.... and I can only downgrade my account ONCE.... I use paypal for all my survey payouts too and i like to keep every penny given to me!!

does anyone know the rate of an ING account? thats where I would probably switch to when I need to!

If I understand correctly, you're listing stuff on ebay, and stating that you prefer paypal. people are trying to pay using credit cards, which you need a business account to accept. and then paypal takes a cut of everything that comes into your account, whether they pay by credit card or not.

yes, it sucks. after all, they're not making much money off the personal accounts, except when they pay someone by CC. so of course they try to pressure ebay sellers to get business accounts. the best solution I can think of for you is to remove the paypal logo from your listing, but to state in the payment methods that you will take paypal but NOT credit cards.

for me, I used to list stuff with the paypal logo, but stated that I could not accept credit cards. too many idiots kept paying me with credit cards.

for me, the main reason to have a paypal account is to buy and sell stuff on ebay. if you're just looking for a good money market yield, there are places like HSBC. the money market and the cash back debit card are nice bonuses, but they're available elsewhere.

BillsGirl · #33 (**permalink**) 02-12-2006, 10:02 AM

HSBC is that a bank online??

I only opened paypal for survey payouts and decided to start using it on ebay but I never use to accept paypal on ebay.. I was thinking about making a seperate paypal account JUST for ebay stuff that way it wont bother me if it's business or not... but I feel that if it came from surveys I deserve every penny of it!!

I am going to look into hsbc, Thanks!

sweeps · #34 (**permalink**) 02-12-2006, 02:00 PM

Yes, HSBC is an online bank. Paying 4.80% through April 30.

As mentioned earlier in this thread, the APY on Paypal's money market will drop 0.25% as of March 1.